2012-03-05T13:32:07-06:00 2011-05-31 LATTIMORE BLACK MORGAN & CAIN PC PO BOX 1869 BRENTWOOD TN 370241869 990 2010-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR 6159661000 2012-03-02 1 JULIE BARTLETT 6153774600 2010 2016-02-24 21:20:13Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 192603921 0 X WWW.LIPSCOMB.EDU X 1891 TN LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. 33 32 2432 400 0 0 6898649 7485559 88979183 106759275 -2122717 724481 544347 366806 94299462 115336121 15411653 18135203 0 0 44127704 50493460 139757 0 2409088 39167671 43367333 98846785 111995996 -4547323 3340125 194512319 206569677 107910570 107139807 86601749 99429870 X LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. 0 0 54063347 18132314 92753523 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 15428295 STUDENT SERVICES:ENGAGING STUDENT LIFE IN A DYNAMIC AND DIVERSE COMMUNITY THAT GIVES STUDENTS THE OPPORTUNITY TO BE REAL WITH THEMSELVES AND EACH OTHER WHILE PROVIDING OPPORTUNITIES FOR SPIRITUAL FAITH DEVELOPMENT THROUGH SERVICE AND LEARNING. 10970413 14005752 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 9780439 ACADEMIC SUPPORT:INCLUDES ACADEMIC COUNSELING & TESTING SERVICES, ACADEMIC PROGRAM DEVELOPMENT, UNIVERSITY DEANS, INSTRUCTIONAL TECHNOLOGY, LIBRARY SERVICES, AND OTHER AREAS DESIGNED TO ENHANCE A STUDENT'S LEARNING EXPERIENCE AND THE OVERALL QUALITY OF A STUDENT'S EDUCATION. 1767461 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. 83 0 RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 11547983 92010038 1 1 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 352 0 2432 1 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X DANNY H TAYLOR SVPFINANCE 6159667650 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 37204 RANDY LOWRY 40.00 X X 251893 0 135469 HILTON DEAN 1.00 X 0 0 0 JD ELLIOTT 1.00 X 0 0 0 NEIKA B STEPHENS 1.00 X 0 0 0 JAMES C ALLEN 1.00 X 0 0 0 GARY T BAKER 1.00 X 0 0 0 J ADDISON BARRY 1.00 X 0 0 0 ROBERT A BRACKETT 1.00 X 0 0 0 ALFRED N CARMAN JR 1.00 X 0 0 0 LEWIS M CARTER JR 1.00 X 0 0 0 D GERALD COGGIN SR 1.00 X 0 0 0 JERRY COVER 1.00 X 0 0 0 BRYAN A CRISMAN 1.00 X 0 0 0 ROBBIE B DAVIS 1.00 X 0 0 0 STANLEY M EZELL 1.00 X 0 0 0 PETE T GUNN III 1.00 X 0 0 0 J GREGORY HARDEMAN 1.00 X 0 0 0 LINDA HEFLIN JOHNSTON 1.00 X 0 0 0 MARTY R KITTRELL 1.00 X 0 0 0 SANDRA W PERRY 1.00 X 0 0 0 JW PITTS JR 1.00 X 0 0 0 DAVID W RALSTON 1.00 X 0 0 0 DAVID SCOBEY 1.00 X 0 0 0 HARRIETTE H SHIVERS 1.00 X 0 0 0 CICELY SIMPSON 1.00 X 0 0 0 DAVID L SOLOMON 1.00 X 0 0 0 H CARLTON STINSON 1.00 X 0 0 0 TIM S THOMAS 1.00 X 0 0 0 WILLIAM THOMAS 1.00 X 0 0 0 ROBERT E WOOD 1.00 X 0 0 0 MARK H YOKLEY 1.00 X 0 0 0 KEN SHUMARD 1.00 X 0 0 0 NANCY MAGNUSSON DURHAM 40.00 X 156454 0 11044 RICHARD COWART 1.00 X 0 0 0 CRAIG BLEDSOE 40.00 X 164618 0 11739 WALT LEAVER 40.00 X 93680 0 11021 DANNY TAYLOR 40.00 X 156341 0 16976 PHILIP HUTCHESON 40.00 X 145920 0 17843 PHILLIP ELLENBURG 40.00 X 97537 0 15621 JOSEPH IVEY 40.00 X 124077 0 21402 SCOTT MCDOWELL 40.00 X 114578 0 16279 BENNIE HARRIS 40.00 X 145139 0 12857 MIKE HAMMOND 40.00 X 115241 0 8175 DEBY SAMUELS 40.00 X 119311 0 4340 SUSAN GALBREATH 40.00 X 104534 0 16689 JIM THOMAS 40.00 X 105156 0 7007 JOHN YORK 40.00 X 54093 0 44507 SCOTT H SANDERSON 40.00 X 334163 0 20840 ROGER L DAVIS 40.00 X 214908 0 18797 THOMAS M CAMPBELL 40.00 X 178804 0 19015 CHARLES TURNEY STEVENS 40.00 X 158240 0 20222 WENDELL AKERS 40.00 X 146990 0 60 2981677 0 429903 17 0 1 0 SODEXO INC AND AFFILIATES ONE UNIVERSITY PARK DR NASHVILLE TN 37204 FOOD SERVICES 3897395 BACON CONSTRUCTION CO 1880 GENERAL GEORGE PATTON DR SUIT FRANKLIN TN 37067 CONSTRUCTION SERVICES 1247645 JE CRAIN & SONS INC 2525 WINFORD AVENUE NASHVILLE TN 37211 CONSTRUCTION SERVICES 731323 TUCK-HINTON ARCHITECTS PLC 410 ELM STREET NASHVILLE TN 37203 ARCHITECTURAL SERVICES 457098 OLOGIE 447 EAST MAIN STREET COLUMBUS OH 43215 CONSULTING SERVICES 306863 15 72562 275412 7137585 1304369 7485559 TUITION 611710 90316218 90316218 AUXILIARY REVENUE 611710 14005752 14005752 MISCELLANEOUS INCOME 611710 2363843 2363843 INCREASE - LIFE INSURA 524298 73462 73462 106759275 838464 838464 902443 498348 404095 404095 404095 76492869 76421951 184901 70918 -184901 -113983 -113983 125311 72562 162600 -37289 -37289 115336121 106759275 0 1091287 22023 22023 18113180 18113180 1794179 1794179 40848606 35866490 3510518 1471598 1417858 1296692 64013 57153 3606447 2971326 380025 255096 2826370 2408939 321346 96085 85820 85820 84380 84380 203818 203818 799758 640673 149764 9321 6544847 4205662 1955627 383558 70106 70106 257811 257811 5127197 4461897 552339 112961 436239 352994 68109 15136 3928594 3928594 5802568 4649544 1153024 4090661 3247410 843251 CONTRACT SERVICES 3921069 3033209 869757 18103 GENERAL EXPENSES 3067322 2836655 230667 UTILITIES 2685869 2678287 7582 PPE ADDITIONS 1677663 1341027 319953 16683 SPECIAL EVENTS 1326712 752627 508197 65888 3256899 2873592 545907 -162600 111995996 92010038 17576870 2409088 2945213 4655194 3532331 3630593 1483572 1586408 205279795 79200861 122682561 126078934 2402063 11008698 59737193 58007243 1729386 1602607 194512319 206569677 22770110 24674727 2417302 2785414 70150000 67120000 2106033 1947102 10467125 10612564 107910570 107139807 X 6028341 16687402 46286679 46004078 34286729 36738390 86601749 99429870 194512319 206569677 X 3340125 9487996 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51975962 2401561 10224945 1977336 2535161 60089971 51874685 2209722 2304501 4243501 169445 51975962 78746075 2406005 -22177746 6922131 177518 51874685 0.21850 0.60750 0.17000 0 0 10262279 163359300 67243560 106378019 29048674 11957301 17091373 2609542 2609542 126078934 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 52703208 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 5304035 F 58007243 OTHER LIABILITIES 7582564 CURRENT PORTION OF TAX EXEMPT BONDS PAYABLE 3030000 10612564 115336121 111995996 3340125 9488000 -4 9487996 12828121 107277147 9488000 845849 10333849 96943298 203818 18189005 18392823 115336121 94449023 845849 845849 93603174 203818 18189004 18392822 111995996 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO PROVIDE FUNDS FOR PROFESSORSHIPS, CHAIRS AND SCHOLARSHIPS FOR STUDENTS AND GENERAL SUPPORT FOR OPERATIONS. PART XI, LINE 8 - OTHER ADJUSTMENTS: ROUNDING -4. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 498,348. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 162,600. LOSS ON SALE OF ASSET INCLUDED IN EXPENSE ON F/S RECLASSED TO INCOME FOR T/R 184,901. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE INCLUDE IN INCOME ON F/S AND RECLASSED TO EXPENSE FOR TAX RETURN 75,825. FINANCIAL AID NETTED WITH REVENUE ON THE F/S 18,113,180. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 498,348. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 162,600. LOSS ON SALE OF ASSET INCLUDED IN EPENSE ON F/S RECLASSED TO INCOME FOR T/R 184,901. PART XIII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE INCLUDE IN INCOME ON F/S AND RECLASSED TO EXPENSE FOR TAX RETURN 75,825. FINANCIAL AID NETTED WITH REVENUE ON THE F/S 18,113,180. ROUNDING -1. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 LIPSCOMB UNIVERSITY PUBLISHES ITS "NOTICE OF NONDISCRIMINATORY POLICY" IN BROCHURES, STUDENT HANDBOOKS, CATALOGS, AND ON THE WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 GOVERNMENT GRANTS TOTALED $275,412 FOR PERIOD ENDING MAY 31, 2011. CS ART EVENT 197873 72562 125311 162600 0 197873 72562 125311 162600 162600 -37289 1 X SCHOLARSHIPS 2918 18113180 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: LIPSCOMB UNIVERSITY HAS AN ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS AND AN ANNUAL AUDIT OF ITS FINANCIAL AID AWARDING PROCESS (CALLED THE OMB CIRCULAR A-133 AUDIT). IN ADDITION, FINANCIAL AID COUNSELORS ATTEND CONFERENCES AND TRAINING SESSIONS ON FINANCIAL AID AWARDING POLICIES, PROCEDURES, AND CONTROLS. X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 RANDY LOWRY 229430 0 0 0 22463 0 17150 0 118319 0 387362 0 0 0 NANCY MAGNUSSON DURHAM 128746 0 0 0 27708 0 10544 0 500 0 167498 0 0 0 CRAIG BLEDSOE 145485 0 0 0 19133 0 11311 0 428 0 176357 0 0 0 DANNY TAYLOR 144169 0 0 0 12172 0 11244 0 5732 0 173317 0 0 0 PHILIP HUTCHESON 123785 0 7500 0 14635 0 9906 0 7937 0 163763 0 0 0 BENNIE HARRIS 131342 0 0 0 13797 0 9464 0 3393 0 157996 0 0 0 SCOTT H SANDERSON 310552 0 0 0 23611 0 13634 0 7206 0 355003 0 0 0 ROGER L DAVIS 189889 0 0 0 25019 0 14401 0 4396 0 233705 0 0 0 THOMAS M CAMPBELL 160710 0 0 0 18094 0 12934 0 6081 0 197819 0 0 0 CHARLES TURNEY STEVENS 143727 0 0 0 14513 0 11071 0 9151 0 178462 0 0 0 THE HEALTH & EDUCATIONAL FACILITIES BOARD OF THE METRO GOV OF NASHVILLE 580466330 592041SH1 2009-08-12 74560000 REFUND SERIES 2003, 2003B, 2006 AND 2008 BONDS 0 0 0 74560000 900000 1 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 SUNTRUST ROBINSON HUMPHREY 20.000000000000 0 0 0 0 0 RHONDA LOWRY PRESIDENT'S WIFE 30000 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 97509 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 30490 UNIVERSITY EMPLOYEE 0 BRENT CULBERSON VICE PRESIDENT'S SON-IN-LAW 36711 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 7793 RENTAL REAL PROPERTYRENTAL REAL PROPERTY 0 HARRIETT SHIVERS BOARD MEMBER 18750 RENTAL REAL PROPERTY 0 X 7 1290241 FMV AT DATE OF SALE X EXERCISE EQUIPMENT 1 5000 VALUE DETERMINED BY SIMILAR EQUIPMENT X PIANO 1 3000 VALUE DETERMINED BY SIMILAR EQUIPMENT X FENCING 1 6128 VALUE DETERMINED BY FENCING COMPANY 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 BOARD DELEGATES THIS RESPONSIBILITY TO THE AUDIT COMMITTEE OF THE BOARD. ONCE THE AUDIT COMMITTEE HAS APPROVED FORM 990, IT IS POSTED ON THE LIPSCOMB TRUSTEE WEBSITE PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C RELATED PARTY CONFIRMATIONS ARE REVIEWED AND FOLLOWED UP BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AS WELL AS THE UNIVERSITY'S INDEPENDENT ACCOUNTING FIRM, LBMC, ON AN ANNUAL BASIS. ALSO, THE AUDIT COMMITTEE OF THE BOARD REVIEWS RELATED PARTY RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD SETS THE PRESIDENT'S SALARY ANNUALLY BASED ON HIS CONTRACT. HIS INITIAL COMPENSATION WAS ESTABLISHED BASED ON A REVIEW OF MARKET DATA AND THE NEGOTIATION PROCESS. THIS SAME PROCESS OCCURS WITH OTHER OFFICERS AND KEY EMPLOYEES WITH THE PRESIDENT CONDUCTING AN ANNUAL EVALUATION. SALARY POOL INCREASES ARE ALSO A COMPENENT OF ANNUAL COMPENSATION BASED ON APPROVED BUDGET FUNDING. FORM 990, PART VI, SECTION C, LINE 18 THE UNIVERSITY MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 9,488,000. ROUNDING -4. TOTAL TO FORM 990, PART XI, LINE 5: 9,487,996.